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Dongnam Chemical Co (023450) Fair Value & Analysis

Basic Materials · KR · Market cap 93.8B KRW

DC Dongnam Chemical Co 023450 · KO
Price29,800 KRW
Fair Value35,481 KRW
Upside+19.1%
Quality70/100
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Healthy Growth
Thin margins · 4.0% net margin
Low debt · generates free cash flow
4.12% dividend yield
Ranks above peers (9/11)
Narrow moat 42/100
Evidence: High Range 26,611 KRW – 44,352 KRW Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Share price +7.0% over the past month.

A solid business, screening 19% undervalued on our models.

What matters now

  • Our model range runs from 26,611 KRW (bear) to 44,352 KRW (bull), base 35,481 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 70/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

60,874 KRW 26,598 KRW Fair Value 35,481 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 26,598 KRW – 60,874 KRW · fair‑value band 26,611 KRW – 44,352 KRW · the 29,800 KRW price screens below the 35,481 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Dongnam Chemical Co (023450) currently trades at 29,800 KRW, while our model-based Fair Value estimate is 35,481 KRW, implying the stock looks roughly 19.1% undervalued today. The Quality Score stands at 70/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Dongnam Chemical Co generated revenue of 198B KRW at a net margin of 4.0%. Revenue grew 6.8% year over year. It earns a return on equity of 14.4%. Net debt stands at 18.5B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 26,611 KRW (bear case) to 44,352 KRW (bull case); at 29,800 KRW, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at 19%, 023450 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF 44,904 KRW 68,668 KRW 102,814 KRW 80
Residual Income 15,430 KRW 18,512 KRW 36,168 KRW 76
Rev-Margin DCF 28,786 KRW 45,095 KRW 64,072 KRW 74
All 26 models by family
DCF Models
FCF DCF 44,112 KRW 71,019 KRW 112,230 KRW 38
Owner Earnings 37,844 KRW 61,222 KRW 97,027 KRW 31
5Y Revenue Exit 28,786 KRW 44,667 KRW 64,485 KRW 39
5Y EBITDA Exit 33,461 KRW 53,437 KRW 76,410 KRW 41
5Y P/E Exit 28,409 KRW 43,960 KRW 60,004 KRW 38
10Y Revenue Exit 33,102 KRW 48,937 KRW 69,503 KRW 36
10Y EBITDA Exit 36,864 KRW 55,035 KRW 78,628 KRW 37
10Y P/E Exit 33,640 KRW 48,446 KRW 66,074 KRW 35
Earnings-Based
Graham-Dodd 14,193 KRW 44,733 KRW 59,568 KRW 54
Lynch FV 9,803 KRW 14,005 KRW 18,206 KRW 50
PEG = 1.0 9,803 KRW 14,005 KRW 18,206 KRW 46
EPV 16,350 KRW 19,685 KRW 22,604 KRW 59
Dividend Discount
Gordon GGM 9,426 KRW 19,599 KRW 31,091 KRW 70
DDM Multi-Stage 9,426 KRW 15,675 KRW 20,569 KRW 61
Multiples
P/E Multiple 26,611 KRW 35,481 KRW 44,352 KRW 63
P/S Multiple 26,611 KRW 35,481 KRW 44,352 KRW 58
P/B Multiple 26,611 KRW 35,481 KRW 44,352 KRW 55
EV/EBIT 25,694 KRW 35,480 KRW 45,265 KRW 53
EV/EBITDA 31,642 KRW 43,410 KRW 55,179 KRW 54
EV/Revenue 21,780 KRW 32,684 KRW 43,588 KRW 43
Asset-Based
NCAV (Graham) 8,140 KRW 10,908 KRW 16,281 KRW 50
Growth DCF
Growth DCF 44,904 KRW 68,668 KRW 102,814 KRW 80
Rev-Margin DCF 28,786 KRW 45,095 KRW 64,072 KRW 74
Economic Profit
Residual Income 15,430 KRW 18,512 KRW 36,168 KRW 76
ROIC Compounder 16,370 KRW 21,636 KRW 28,461 KRW 72
Growth Earnings
Growth-Adj P/E 22,660 KRW 32,371 KRW 42,083 KRW 68

Widest divergence: DCF Models (48,937 KRW) versus Asset-Based (10,908 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 198B KRW
Revenue growth (YoY) +6.8%
Net margin 4.0%
Return on equity 14.4%
Free cash flow 14.0B KRW FY2025
Operating margin 6.8%
More key figures
Dividend yield 4.1%
EPS growth (YoY) +40.0%
Net debt 18.5B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 53

Profitability 53
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 98
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Dongnam Chemical Co., Ltd. manufactures and sells chemicals and surfactants in South Korea and internationally. The company was formerly known as Dongnam Industry Co., Ltd. and changed its name to Dongnam Chemical Co., Ltd. in March 2004. Dongnam Chemical Co., Ltd. was founded in 1965 and is based in Gongju-si, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dongnam Chemical Co reported revenue of 194B KRW in FY2025 versus 160B KRW in FY2021, a compound +4.9%/yr. Reported net income was 7.0B KRW in FY2025, compounding −12.1%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
194B KRW
Latest YoY
+4.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.2%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.2%
Revenue +4.9%/yr
FY21 160B KRW
FY22 193B KRW
FY23 167B KRW
FY24 186B KRW
FY25 194B KRW
Net income −12.1%/yr
FY21 11.7B KRW
FY22 10.6B KRW
FY23 6.0B KRW
FY24 6.7B KRW
FY25 7.0B KRW

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Cite: Fair Value Calculator (2026). "Dongnam Chemical Co Fair Value". https://www.fairvalue-calculator.com/stock/023450

Peer Group

Chemicals · 333 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 70 · Top 25%
Fair Value upside +19% · Top 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 7% · Below median
Revenue growth 7% · Above median
Dividend yield (TTM) 4.1% · Top 25%
Debt / equity 0.26× · Higher than median

Valuation Multiples vs Chemicals median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 0.8× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 59 · sector 0
FUTURE 34 · sector 20
PAST 58 · sector 19
HEALTH 87 · sector 94
DIVIDEND 82 · sector 27

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Dongnam Chemical Co (023450) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 35,481 KRW versus a price of 29,800 KRW, about +19% (undervalued).
What is the fair value of 023450?
Our model-based fair value for Dongnam Chemical Co is 35,481 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 29,800 KRW.
What is the quality score of 023450?
Dongnam Chemical Co has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Dongnam Chemical Co (023450)?
Dongnam Chemical Co reported trailing-twelve-month revenue of about 198B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 023450?
The net profit margin of Dongnam Chemical Co is about 4.0%, meaning it keeps roughly 4.0% of revenue as net income. Based on the latest reported figures.
Does Dongnam Chemical Co pay a dividend?
Dongnam Chemical Co currently shows a dividend yield of about 3.19% relative to its recent price (as of Jul 22, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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